Wasatch Advisors LP Sells 19,946 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Wasatch Advisors LP reduced its position in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 4.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 417,927 shares of the medical research company's stock after selling 19,946 shares during the period. Wasatch Advisors LP owned approximately 0.23% of Exact Sciences worth $23,483,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in EXAS. Geode Capital Management LLC increased its position in shares of Exact Sciences by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 3,122,798 shares of the medical research company's stock worth $175,165,000 after purchasing an additional 16,828 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Exact Sciences by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,330,939 shares of the medical research company's stock valued at $74,785,000 after buying an additional 38,849 shares in the last quarter. Groupama Asset Managment lifted its holdings in shares of Exact Sciences by 0.3% during the 4th quarter. Groupama Asset Managment now owns 1,209,146 shares of the medical research company's stock worth $67,942,000 after acquiring an additional 4,194 shares during the last quarter. Norges Bank purchased a new position in Exact Sciences in the fourth quarter worth $50,625,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Exact Sciences by 63.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 549,262 shares of the medical research company's stock valued at $30,863,000 after acquiring an additional 213,557 shares during the last quarter. 88.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on EXAS shares. William Blair reiterated an "outperform" rating on shares of Exact Sciences in a report on Thursday, February 20th. Piper Sandler decreased their price target on shares of Exact Sciences from $75.00 to $70.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Guggenheim reaffirmed a "buy" rating and set a $60.00 target price on shares of Exact Sciences in a report on Friday, April 11th. Bank of America lowered their price target on shares of Exact Sciences from $72.00 to $65.00 and set a "buy" rating for the company in a research note on Thursday, February 20th. Finally, Barclays decreased their price objective on Exact Sciences from $65.00 to $55.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Two equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $69.25.

Exact Sciences Stock Up 2.1 %

Shares of NASDAQ EXAS traded up $0.91 during mid-day trading on Tuesday, hitting $44.01. 526,403 shares of the stock traded hands, compared to its average volume of 2,602,826. The company has a market cap of $8.17 billion, a price-to-earnings ratio of -7.90 and a beta of 1.14. The stock has a fifty day moving average price of $45.73 and a 200-day moving average price of $54.69. Exact Sciences Co. has a 52 week low of $39.97 and a 52 week high of $72.83. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.93 and a current ratio of 2.15.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last announced its earnings results on Wednesday, February 19th. The medical research company reported ($0.06) EPS for the quarter, beating analysts' consensus estimates of ($0.29) by $0.23. The firm had revenue of $713.42 million for the quarter, compared to analysts' expectations of $701.45 million. Exact Sciences had a negative net margin of 37.29% and a negative return on equity of 5.29%. Research analysts anticipate that Exact Sciences Co. will post -0.58 EPS for the current year.

Exact Sciences Profile

Exact Sciences Corporation provides cancer screening and diagnostic test products in the United States and internationally. The company offers Cologuard, a non-invasive stool-based DNA screening test to detect DNA and hemoglobin biomarkers associated with colorectal cancer and pre-cancer. It also provides Oncotype DX Breast Recurrence Score Test; Oncotype DX Breast DCIS Score Test; Oncotype DX Colon Recurrence Score Test; OncoExTra Test for tumor profiling for patients with advanced, metastatic, refractory, relapsed, or recurrent cancer; and Covid-19 testing services.